Northcape Wealth Management LLC Has $4.40 Million Stock Position in International Business Machines Co. (NYSE:IBM)

Northcape Wealth Management LLC reduced its stake in shares of International Business Machines Co. (NYSE:IBM - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,011 shares of the technology company's stock after selling 1,157 shares during the period. International Business Machines accounts for 1.4% of Northcape Wealth Management LLC's investment portfolio, making the stock its 20th biggest holding. Northcape Wealth Management LLC's holdings in International Business Machines were worth $4,399,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Marks Group Wealth Management Inc grew its position in International Business Machines by 0.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 10,425 shares of the technology company's stock worth $2,292,000 after acquiring an additional 45 shares in the last quarter. First Affirmative Financial Network boosted its holdings in International Business Machines by 1.5% in the fourth quarter. First Affirmative Financial Network now owns 3,123 shares of the technology company's stock worth $687,000 after purchasing an additional 46 shares in the last quarter. Goldstein Advisors LLC increased its position in International Business Machines by 4.0% during the third quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company's stock worth $269,000 after buying an additional 47 shares during the last quarter. Vertex Planning Partners LLC raised its holdings in International Business Machines by 3.6% during the third quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company's stock valued at $298,000 after buying an additional 47 shares in the last quarter. Finally, Forza Wealth Management LLC lifted its position in shares of International Business Machines by 0.4% in the fourth quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company's stock worth $2,891,000 after buying an additional 47 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

IBM traded down $2.97 during trading on Friday, reaching $261.77. 5,665,344 shares of the company's stock were exchanged, compared to its average volume of 4,735,325. International Business Machines Co. has a fifty-two week low of $162.62 and a fifty-two week high of $265.72. The company has a market capitalization of $242.05 billion, a P/E ratio of 40.84, a PEG ratio of 5.80 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The business has a 50 day moving average price of $234.65 and a 200 day moving average price of $221.26.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, analysts predict that International Business Machines Co. will post 10.77 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Monday, February 10th. International Business Machines's dividend payout ratio is 104.21%.

Analysts Set New Price Targets

IBM has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an "outperform" rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Monday, January 27th. Oppenheimer started coverage on shares of International Business Machines in a research report on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Bank of America lifted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Finally, StockNews.com upgraded shares of International Business Machines from a "hold" rating to a "buy" rating in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $231.44.

International Business Machines Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.